Financial highlights
Revenue up 7.1% to £348.7m and up 9.2% on an organic currency neutral ('OCN') basis(1)
Adjusted EBITDA up 6.8% to £163.7m and up 9.5% on an OCN basis
Adjusted EBITDA margin stable at 47.0% (2013: 47.1%)
Adjusted diluted EPS up 7.4% to 39.2p and up 10.4% on an OCN basis
Operational highlights
Sold power percentage up 130bps to 73.3%
Significant reduction in churn rates in second half of 2014
Shareholder returns
Proposed final dividend up 28.6% to 9.0p per share, total 2014 dividend up 28.6% to 13.5p
Dividend payment expected to rise to 50% of EPS over the next 3 years
Announcement of £400m 3-year share buy-back programme
Capital structure review completed with target leverage reset to up to 3 times net debt to EBITDA
New £600m 5-year senior debt facility signed 30 January 2015
Outlook
Positive 2015 outlook confirmed, with a strong on-going focus on capital discipline
Expect to continue to build on current strong growth rates and profitability in the medium term
Non-binding agreement on all-share merger with InterXion Holdings N.V
Today the Group announces that it has reached a non-binding agreement on an all-share merger with InterXion
Complementary strengths to fulfil the expanding product, service and geographic needs of our customers
Total synergies with a net present value of approximately £600m identified
John Hughes to continue as Executive Chairman until completion of the proposed transaction after which he would become Chairman of the combined group
For further details please see the announcement titled "TelecityGroup and InterXion reach non-binding agreement on all-share merger" released today
